Cabot Energy PLC Result of Open Offer (0656C)

TIDMCAB

RNS Number : 0656C

Cabot Energy PLC

17 January 2018

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.

Cabot Energy Plc

("Cabot Energy", the "Group" or the "Company")

Result of Open Offer

Cabot Energy (AIM: CAB) announces the results of the recent Open Offer undertaken at a price of 5 pence per share, on the basis of one Open Offer Share for every eight Existing Ordinary Shares.

The Open Offer closed for acceptances at 11:00 a.m. on 16 January 2018 and the Company announces that it has received valid acceptances in respect of 21,634,406 Open Offer Shares from Qualifying Shareholders, representing 54.8 per cent. of the available Open Offer Shares. The Company has therefore raised aggregate gross proceeds of GBP1,081,720.30 through the Open Offer. Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Open Offer application.

Application has been made for the 21,634,406 Open Offer Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective at 08:00 a.m. on 18 January 2018.

Following the issue of the Open Offer Shares, Cabot Energy will have 648,459,524 ordinary shares of 1p each in issue, which will also represent the total number of voting rights in the Company. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms used in this announcement shall have the meaning ascribed to them in the circular that was sent to shareholders on 19 December 2017 unless the context otherwise requires.

For further information please contact:

 
                                      +44 (0)20 
Cabot Energy Plc                       7469 2900 
Keith Bush, Chief Executive Officer 
Nick Morgan, Finance Director 
 
                                      +44 (0)20 
SP Angel Corporate Finance LLP         3470 0470 
Nominated Adviser and Joint Broker 
Richard Morrison, Richard Redmayne, 
 Charlie Bouverat 
 
                                      +44 (0)20 
FTI Consulting                         3727 1000 
Financial PR 
Edward Westropp 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

ROIBCGDBRXBBGIL

(END) Dow Jones Newswires

January 17, 2018 02:00 ET (07:00 GMT)